community land trust is an innovative ownership structure that
provides families with secure tenancy in their homes, while removing
the possibility of speculative financial gain by any individual.
Often land trusts are established as the owners for various types
of housing. Some of the most interesting examples are mobile home
parks, in which individuals own their own homes, but lease the
land. Landowners often evict mobile home tenants to clear land
for commercial development. But, when residents form a community
land trust to buy the property, they gain security and build stronger
bonds between each other.
A number of CDFIs finance land trusts. The Institute
for Community Economics is a nationwide lender based in Massachusetts
that is dedicated exclusively to fostering this type of ownership.
Fisherville Trailer Park
eliminated the threat of rent increases and evictions when residents
formed a community land trust to buy this mobile home park.